Bull & Bear are loving the rapid growth in prime rents at the top end of Central London's office market. In Farringdon, there is talk of rents touching on £115 psf and rents have broken through the £200 psf mark in the West End.
Whilst encouraging, Bear fears for the the UK's regional cities. Prime rents may be growing, but they are still a long way off a level that makes new development viable and the lack of new space coming through epitomises this.
Bull and Bear agree that whilst the regional office markets have their challenges, they'd like to see some brave developers come forward and command the rents needed to make development stack up.